Hon Hai Precision Industry Co (鴻海精密) chairman Terry Gou (郭台銘) was planning to meet with Sharp Corp’s board at its headquarters yesterday and make his case for a raised offer to take control of the Japanese electronics maker for about ￥660 billion (US$5.4 billion), according to a person familiar with the matter.
The offer is designed to beat out an alternative deal with a Japanese government fund and would include about ￥390 billion to buy new shares for a controlling stake, said the person, who could not be identified because the information is not public.
About ￥225 billion would be used to buy preferred stock in Sharp, primarily from the company’s two major banks, and another ￥45 billion would be used to buy land from the company.
Sharp has been discussing competing bailout plans with Hon Hai, also known as Foxconn Technology Group (富士康), and the Innovation Network Corp of Japan (INCJ). INCJ might invest about ￥300 billion in Sharp, people familiar with the matter have said.
Though the Taiwanese company is offering more money, Sharp is said to be leaning toward a deal with INCJ, which would keep its technology within Japan and allow it to cooperate more closely with domestic companies, according to sources.
Sharp is continuing talks with companies on the restructuring of its LCD business, company spokesman Yoshifumi Seki said by telephone yesterday, without identifying the participants.
He declined to comment on details of the negotiations.
Sharp’s US depositary receipt rose as much as 13.4 percent to US$1.27 and closed at US$1.25 on Friday.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) last week recorded an increase in the number of shareholders to the highest in almost eight months, despite its share price falling 3.38 percent from the previous week, Taiwan Stock Exchange data released on Saturday showed. As of Friday, TSMC had 1.88 million shareholders, the most since the week of April 25 and an increase of 31,870 from the previous week, the data showed. The number of shareholders jumped despite a drop of NT$50 (US$1.59), or 3.38 percent, in TSMC’s share price from a week earlier to NT$1,430, as investors took profits from their earlier gains
In a high-security Shenzhen laboratory, Chinese scientists have built what Washington has spent years trying to prevent: a prototype of a machine capable of producing the cutting-edge semiconductor chips that power artificial intelligence (AI), smartphones and weapons central to Western military dominance, Reuters has learned. Completed early this year and undergoing testing, the prototype fills nearly an entire factory floor. It was built by a team of former engineers from Dutch semiconductor giant ASML who reverse-engineered the company’s extreme ultraviolet lithography (EUV) machines, according to two people with knowledge of the project. EUV machines sit at the heart of a technological Cold
Taiwan’s long-term economic competitiveness will hinge not only on national champions like Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電) but also on the widespread adoption of artificial intelligence (AI) and other emerging technologies, a US-based scholar has said. At a lecture in Taipei on Tuesday, Jeffrey Ding, assistant professor of political science at the George Washington University and author of "Technology and the Rise of Great Powers," argued that historical experience shows that general-purpose technologies (GPTs) — such as electricity, computers and now AI — shape long-term economic advantages through their diffusion across the broader economy. "What really matters is not who pioneers
TAIWAN VALUE CHAIN: Foxtron is to fully own Luxgen following the transaction and it plans to launch a new electric model, the Foxtron Bria, in Taiwan next year Yulon Motor Co (裕隆汽車) yesterday said that its board of directors approved the disposal of its electric vehicle (EV) unit, Luxgen Motor Co (納智捷汽車), to Foxtron Vehicle Technologies Co (鴻華先進) for NT$787.6 million (US$24.98 million). Foxtron, a half-half joint venture between Yulon affiliate Hua-Chuang Automobile Information Technical Center Co (華創車電) and Hon Hai Precision Industry Co (鴻海精密), expects to wrap up the deal in the first quarter of next year. Foxtron would fully own Luxgen following the transaction, including five car distributing companies, outlets and all employees. The deal is subject to the approval of the Fair Trade Commission, Foxtron said. “Foxtron will be
RSS